Empowered Funds LLC Sells 29,239 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Empowered Funds LLC cut its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 5.9% in the third quarter, HoldingsChannel.com reports. The fund owned 467,000 shares of the Wireless communications provider’s stock after selling 29,239 shares during the period. Empowered Funds LLC’s holdings in Telephone and Data Systems were worth $10,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TDS. Dimensional Fund Advisors LP lifted its holdings in Telephone and Data Systems by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,018,541 shares of the Wireless communications provider’s stock valued at $124,761,000 after acquiring an additional 507,512 shares during the period. Millennium Management LLC boosted its holdings in shares of Telephone and Data Systems by 34.0% in the second quarter. Millennium Management LLC now owns 1,950,298 shares of the Wireless communications provider’s stock worth $40,430,000 after buying an additional 495,189 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Telephone and Data Systems during the second quarter valued at approximately $7,680,000. Vanguard Group Inc. increased its holdings in Telephone and Data Systems by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,569,591 shares of the Wireless communications provider’s stock valued at $201,365,000 after buying an additional 320,976 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Telephone and Data Systems by 8.4% in the second quarter. American Century Companies Inc. now owns 2,655,980 shares of the Wireless communications provider’s stock worth $55,058,000 after acquiring an additional 206,819 shares during the period. 80.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TDS. JPMorgan Chase & Co. boosted their price objective on shares of Telephone and Data Systems from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Raymond James upgraded Telephone and Data Systems from a “market perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Thursday, November 7th.

Telephone and Data Systems Stock Performance

TDS opened at $31.17 on Friday. The firm has a market cap of $3.52 billion, a P/E ratio of -5.77 and a beta of 0.77. Telephone and Data Systems, Inc. has a 1-year low of $13.69 and a 1-year high of $34.57. The company has a 50 day simple moving average of $25.92 and a two-hundred day simple moving average of $22.25. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings results on Friday, November 1st. The Wireless communications provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.19. Telephone and Data Systems had a positive return on equity of 1.12% and a negative net margin of 10.72%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted ($0.16) EPS. Telephone and Data Systems’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities analysts forecast that Telephone and Data Systems, Inc. will post -0.36 earnings per share for the current fiscal year.

About Telephone and Data Systems

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.